47
SOCIAL
INTRODUCTION
SUSTAINABILITY OBJECTIVES AND STRATEGY
ENVIRONMENTAL
POLICIES AND TRANSPARENT REPORTING
APPENDICES
Succession Planning, Learning, and Professional Development
To position our employees for success, we invest in their professional development and provide them with access to a variety of learning opportunities. This continual development of our workforce is imperative for performance, retention, and our company’s growth.
TRAINING All corporate employees are required to complete the following annual trainings provided online: • Bribery and Corruption • Code of Business Conduct and Ethics • Cybersecurity • DEI Strategy Town Hall • Employee Handbook Recertification • Human Rights • Insider Trading • Leadership Training for All People Managers • Preventing Workplace Discrimination • Unconscious Bias 100% of employees participated in training this year 19 average hours spent per employee on training and development
Talent Management, Professional Development, Succession Planning Our HR team regularly engages with managers to discuss employee growth paths, development opportunities, and succession planning as part of a formal talent development strategy. We use talent management tools such as 9-Box, annual reviews, mid-year reviews, and 360 feedback to assess the performance and talent potential of current employees and identify future talent and developmental pipeline needs. We leverage these tools for the attraction and retention of employees, to assist with the growth of high-potential employees, and to inform action plans. Employee Performance Review To gather and process employee feedback, we conduct mid-year and end-of-year performance appraisals. Part of the review cycle includes a 360-feedback component that provides employees with feedback from their managers, those reporting to them, and their peers to further employee growth and development.
Empire Academy Our Empire Academy program provides employees with educational programs, resources, and tools. The program provides monthly developmental and job- specific educational seminars on a variety of topics that promote professional development, educational awareness, and personal growth. Monthly events include Meet the Board Member and Meet the Executive to provide employees the opportunity to learn more about the stories of our leaders and to ask them questions. Professional Development and Tuition Assistance ESRT provides professional development reimbursement for programs that enhance our employees’ job knowledge and skills and enable them to network with their professional peers. We provide tuition assistance for corporate employees enrolled in courses related to their current and targeted positions with the company. New Hire Onboarding Program Our new hire onboarding program includes developmental conversations with ongoing enhancements based on feedback from new hires, aligned with our objective to provide a best-in-class employment experience and attract top talent.
EMPIRE STATE REALTY TRUST: 2023 SUSTAINABILITY REPORT
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